The consumer price index was unchanged in April from the previous month but falling energy prices resulted in the index being 0.7% below the same month last year, the Labor Department reported today.
It was the second consecutive month of year-over-declines, the first since 1955.
The CPI had fallen 0.2% in March and had risen 0.5% in February and 0.3% in January.
Excluding food and energy costs, the CPI increased 0.3% in April, a slight increase from the 0.2% increase in March.
Energy prices fell 2.4% in April, compared to 3.0% drop in March. Energy prices have fallen 25.2% in the past year.
Food prices fell 0.2% in April, compared with a 0.1% drop in March. They have increased 3.3% in the last year.
Transportation prices fell 0.4% in April, compared with a 1.1% drop in March and a 13.0% decline for the last year.
Housing prices fell 0.1%-the same as in March-and have increased 1.0% during the last year.
Medical care increased 0.4% last month-compared with a 0.2% increase in April, and have risen 3.0% in the last year.
Education and communication prices increased 0.3% in April-up from a 0.2% increase in March-and have risen 3.4% during the past 12 months.
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